Errors and omissions insurance is liability insurance for businesses and professionals. Obtaining a policy will assist in paying for the costs associated with a lawsuit in the event of a claim. Businesses and professionals in the service sector such as insurance, health care and any industry that provides a service have increased error an omissions risk. Employees make mistakes and most businesses maintain a policy in the event a mistake occurs that may harm a client financially. Even top professionals make mistakes and it may be prudent to maintain an error and omissions policy. It is best to seek the advice of an insurance agent to evaluate your financial risk and determine the best coverage to minimize your risk. error omission insurance